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Crypto exchange Kraken confidentially files for US IPO
Kraken, one of the world's largest cryptocurrency exchanges, has confidentially filed for an initial public offering in the U.S., as digital asset companies look to tap into the new listings market before the 2026 midterm elections.
The company is set to become the latest crypto exchange to list in the U.S., intensifying competition in a sector where sentiment has become more optimistic with support from the Trump administration.
Companies such as stablecoin issuer Circle and crypto exchanges Gemini and Bullish have experienced renewed success in going public in the U.S. this year.
President Donald Trump, who has pledged to make America the "crypto capital of the world," signed the Genius Act into law earlier this year, boosting confidence in the digital asset sector. The legislation, aimed at regulating stablecoins, accompanies other measures such as the proposed Clarity bill, which includes suggested changes in crypto market supervision.
Kraken's announcement follows a recent statement that the company was valued at $20 billion in its latest capital raising, marking a 33% increase in under two months. The funding attracted participation from Wall Street heavyweights Jane Street and Citadel Securities.
The crypto exchange plans to go public in the first quarter of 2026.
With midterm elections less than a year away, analysts expect some urgency from crypto companies in pursuing IPOs to preempt any uncertainty. The presidential party tends to lose ground in midterm elections, potentially altering the landscape for the digital asset industry.
Crypto-focused asset manager Grayscale and custody startup BitGo are among the companies currently in the IPO pipeline.
Founded in 2011, Kraken has yet to determine the number of shares to be offered and the price range.
Initially focused on crypto, the company has expanded across asset classes in recent months, including equities with the rollout of commission-free trading.
This article has been published in reuters.com via Yahoo News.
Kraken confidentially files for IPO as crypto firms eye listings before 2026 midterms
By Arasu Kannagi Basil and Pritam Biswas (Reuters) -Kraken, one of the world's largest cryptocurrency exchanges, said on Wednesday it has confidentially filed for an initial public offering in the U.S
finance.yahoo.com
